PART 3DEDUCTION AND REPAYMENT OF TAX

F3CHAPTER 3ABENEFITS IN KIND

Annotations:
Amendments (Textual)
F3

Pt. 3 Ch. 3A inserted (with effect in accordance with reg. 1(4) of the amending S.I.) by The Income Tax (Pay As You Earn) (Amendment No. 4) Regulations 2015 (S.I. 2015/1927), regs. 1(1), 6

Method of calculating the cash equivalent F4or relevant amount of F2non-cash vouchers, credit-tokens and employment-related benefits61G

1

Where the specified benefit is F1a non-cash voucher, credit-token or any employment-related benefit the F5cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 87, 87A, 94, 94A, 203 or 203A of ITEPA, as the case may be.

2

For the purposes of paragraph (1), the authorised employer may make reasonable assumptions about—

a

the cost of a specified benefit to be incurred in a tax year where the cost is not known at the start of the tax year; and

b

payments that a specified employee is expected to make in the tax year to make good any part of the cost incurred in providing the benefit to that employee.